These are hair follicles growing around the ring (aka “the pink quarters”) of the nipple. They can grow to disgusting lengths and despite folklore can grow on women’s boobies. It is not quite a boob, not quite your pubs but it’s your “bubes,” the name for your nipple hair.

Bobby: "Hey you really need to trim your bubes."
Jill: "Oh I know you like to get lost in my bubes."

As we all know, pubes are hairs located in the pelvic region whereas bubes are pubes located in the anus.

Britt: hey Tyler, I'm deep in a relationship with this girl I care about but she wants to have sex but I'm not sure if I want to go too far with her
Tyler: honestly just fuck Sandra's ass but you need to shave her bubes
Britt: bubes?
Tyler: yes, butthole pubes
Britt: no I want the bubes in so I can lick them
Tyler: fag.